FMDQ Approves Veritasi Homes and Properties N10bn CP programme

As part of its commitment to enhancing access to capital for real estate development, FMDQ Exchange, through its Board Listings and Markets Committee has approved the registration of the Veritasi Homes & Properties Limited N10.00 billion Commercial Paper (CP) Programme on its platform.

Veritasi Homes & Properties Limited (the “Issuer”) is a premium real estate company providing marketing, advisory and developmental services across the real estate value chain in Nigeria.

The CP Programme positions the Issuer to raise finance for a tenor up to two-hundred and seventy (270) days from the debt market at a time in the future it deems suitable.

The registration of this CP Programme on the Exchange endorses FMDQ Exchange’s role as a market organiser and lends credence to its reputation of pioneering innovation within the Nigerian financial markets.

Speaking on the successful CP Programme registration, the Managing Director, Veritasi Homes & Properties Limited, Mr Nola Adetola, stated “Veritasi Homes & Properties Limited is delighted with the successful registration by FMDQ Exchange of our N10.00 billion CP Programme.

According to him, the approval of this CP Programme represents a significant milestone in our short term growth aspirations. We are delighted that the proceeds from the issuance of the CP will be applied to develop superior real estate projects designed for clients at home and in the diaspora.

“We want to thank Mega Capital Financial Services Limited, the transaction sponsor, and Pathway Advisors Limited, our financial adviser, for their efforts and professionalism in getting this programme approved. Our commitment as a brand to building a trustworthy business remains, and we look forward to other future engagements with the capital market”.

Also, the sponsor of the CP Programme and a Registration Member (Quotations) of FMDQ Exchange, Mega Capital Financial Services Limited, through the Managing Director, Mr Emmanuel Egbumokei, mentioned that “Mega Capital Financial Services Limited is pleased about its role as Sponsor of the registration of the Veritasi Homes & Properties Limited’s ₦10.00 billion CP Programme and its plans on the subsequent issues under the Programme.

“Veritasi Homes & Properties Limited is a real estate development company with a focus on creating homes for both the low and middle-income earners in Nigeria. This approved CP Programme will enable Veritasi Homes & Properties Limited access to funding from the debt capital markets to actualise its strategic objectives”.